Profit

Key Things To Know About Filing An Online Claim For Provident Fund Withdrawal

Retirement fund body EPFO allows the subscriber to make a partial withdrawal or "advance" from the EPF corpus under certain conditions.

 Share
EMAIL
PRINT
COMMENTS
Key Things To Know About Filing An Online Claim For Provident Fund Withdrawal

An online claim for withdrawal from PF account is forwarded to the employer for approval.


Employees' Provident Fund or EPF, a government-run pension scheme, is focused on salaried individuals. Companies employing more than 20 people have to compulsorily make contributions towards EPF. Retirement fund body Employees' Provident Fund Organisation (EPFO) allows the subscriber to make a partial withdrawal from the EPF corpus under certain conditions, according to its website - epfindia.gov.in. Such a claim is forwarded to the employer for approval. Once approved, the amount is credited to the subscriber's account within 10 days, according to the EPFO portal.

Here are key things subscribers need to know before filing an online claim for a withdrawal from their provident fund (PF) account:

Requirements for subscribers for filing an online claim for PF withdrawal

1. In order to file an online claim for partail withdrawal from the EPF corpus, the subscriber must ensure that the Universal Account Number (UAN) is activated using the registered mobile number. 

2. The subscriber's Aadhaar details should be fed into the EPFO database. 

3. The member's bank account along with Indian Financial System Code (IFSC) should also be seeded in the EPFO database.

4. The member is not required to give any supporting document while preferring online EPF partial withdrawal case. 

Here are some of the conditions in which an online claim for PF withdrawal is allowed:

Types of advanceService eligibility
Housing Loan / Purchase of Site / House / Flat or for construction / addition60 months of service
Lockout or closure of factory0
Illness of member / family0
Marriage of self/son/daughter /brother/sister84 months of service
Post matriculation education of children84 months of service
Natural Calamity0
Cut in electricity in establishment0
Purchasing equipment by physically handicapped0
One year before retirementAge above 54 years
Investment in Varistha Pension Bima YojanaAge above 55 years

(As mentioned on EPFO's website)

How to initiate an online PF withdrawal claim:

Step 1: The user must log in to the member interface using UAN credentials.

Step 2: The user must ensure that the KYC and service eligibility conditions are correct and complete.

Step 3: After this step, the user is required to select the relevant claim.

Step 4: The user then authenticates the request to complete the online claim submission through an OTP-based process.



Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top